LOCAL EMPLOYER PENSION CONTRIBUTIONS

Public Employees' Retirement System (PERS)

Listed below are links to the charts of the estimated Local PERS billing amounts by employer for 2013. The charts list the employers in alphabetical order and include normal and accrued liability pension, noncontributory group life insurance (NCGI) and early retirement incentive costs (ERI), if applicable. In addition the charts include amounts due for the Chapter 19, P.L. 2009 deferral. Certain locations elected to participate in the deferral of payment of 50% of the normal and accrued liability amounts that were due for their 2009 appropriation bill. These installments are being amortized over 15 years.

2013 LOCAL EMPLOYER BILLING AMOUNTS

Public Employees' Retirement System (PERS) Billing Amounts Adobe PDF (163K)

These charts are for budgeting purpose only as these amounts are due and payable next year (or) on April 1, 2013. 

View a side-by-side comparison of the projected 2013 and actual 2012 PERS employer billing.

The Public Employees' Retirement System (PERS) is a defined benefit pension fund established in 1955. It is open to most state, county, municipal, authority, and school board employees and elected officials who are not required to become members of any other NJ state retirement system (i.e., Teachers' Pension and Annuity Fund, Police and Firemen's Retirement System, State Police Retirement System, Judicial Retirement System, or Alternate Benefit Program). Membership in the PERS of employees who meet eligibility requirements is mandatory in most cases. The PERS is maintained on an actuarial reserve basis. The PERS Board of Trustees has the responsibility for the proper administration of the retirement system. All membership and retiree account records in PERS begin with the number "02", except for legislative accounts. Legislative accounts begin with "00".

For more information about the pension and benefits associated with a Public Employees' Retirement System (PERS) membership, members may consult the PERS Member Handbook.

Provisions of Law

The Public Employees’ Retirement System was established by New Jersey Statute and can

be found in the New Jersey Statutes Annotated, Title 43, Chapter 15A. Changes in the law can

only be made by an act of the State Legislature. Rules governing the operation and administration

of the system may be found in Title 17, Chapters 1 and 2 of the New Jersey

Administrative Code.

Funding

The funds used to pay benefits come from three sources: employer contributions, employee

contributions, and investment income from those contributions. All contributions not required

for current operations are invested by the State Division of Investment.